By Matt Scotland
Credit crunch impacts turnout out Arabplast 2009.
This week was a chance for the regional plastics players to congregate and congratulate on past performances and future projects at the ninth Arab Plastic and Rubber Industry Trade Show, otherwise known as Arabplast. The event was a showcase for an ever expanding industry in the region, which saw companies and clients converge to discuss opportunities in the volatile polymer market.
Unfortunately, however, it seems that even the humble halls of the exhibition event are being hit by monetary morose, as footfall at Arabplast was lower than anticipated.
Speaking to the many exhibitors at this year’s event, optimism still abounds in face of the credit crunch and low visitor numbers, and the belief that the Middle East will become the largest producer and exporter of petrochemicals and plastics is still the view the majority abide by. For many it is just a matter of riding out the wave, as the rough seas will inevitably calm – just how long though is anyone’s guess.
Among the highlights from Arabplast ‘09, polyolefin producer Borouge were on hand to announce that it will triple production capacity to two million tonnes per annum and will open more distribution hubs to reach its expanding client portfolio. Check out our Arabplast section to get more news and views from the exhibition floor, as well as our exclusive interview with Borouge CEO, William Yau – all in the upcoming issue of Petrochemicals Middle East.
Also this month we hope you will enjoy our brand new back page feature, which looks at an exciting new product from the world of plastics and petrochemicals. Expect some pretty weird and wonderful innovations in forthcoming months…
Matt Scotland is the deputy editor of Petrochemicals Middle East.